Thomson Reuters Reinforces Global Indirect Tax Leadership Position with Limited Release of New Integration for SAP
(Thomson Reuters ONE) -
Robust determination and calculation engine extends ERP tax functionality to
support complex indirect tax needs
New York, May 14, 2013 - Thomson Reuters today announced a new version of
ONESOURCE Indirect Tax Integration for SAP designed to meet the indirect tax
needs of global companies doing cross border business in the regions of EMEA,
Asia Pacific, Latin America, and North America. Already known as the global
indirect tax innovators, with the first and only patented Universal Tax Engine®,
this latest news builds upon the company's ten years of global SAP indirect tax
implementation expertise, which has resulted in successful SAP implementations
with some of the largest companies in the world. In addition, Thomson Reuters
has in-house, worldwide tax experts to maintain the broadest and deepest
coverage of tax content in more than 14,500 U.S. tax jurisdictions in more than
175 countries.
According to a recent survey titled, "The 2013 Benchmark Survey on VAT/GST" by
KPMG International, two-thirds of respondents in Europe, Middle East and Africa
and one-third in the rest of the world believe that VAT/GST rates will increase
in the next three years indicating government's continued reliance on indirect
tax revenue. For businesses charted with collecting this tax on behalf of
government, VAT/GST changes directly impact the operational resources required
to achieve compliance.
"In the past, it was sufficient to keep abreast of in-country developments,
however, as businesses increasingly go global, and with more countries relying
on VAT and GST for revenue, companies must now be aware of what is happening
worldwide," said Eric Ruud, managing director of ONESOURCE Indirect & Property
Tax at Thomson Reuters. "This latest version of ONESOURCE Indirect Tax
Integration for SAP underscores our commitment to providing global integration
solutions with the most widely used ERP systems. This is just one of the many
ways we are helping global businesses achieve confidence and global transparency
into their indirect tax compliance processes across all business entities and
locations."
While ERP systems generally provide comprehensive and highly configurable tax
code-based reporting that can be extended to provide box-level tax return
reports, these systems are often limited when it comes to determining and
calculating particular types of tax and offering reports that comply with
specific rules and regulations. ONESOURCE Indirect Tax integrated with ERP
systems:
* Streamlines tax calculation, determination, reconciliation, reporting, and
audit preparation with a single, intuitive interface.
* Facilitates indirect tax planning so companies can identify and assess the
overall impact of new tax configurations, as well as document their tax
systems, policies, and processes.
* Guarantees data integrity by working in conjunction with ERP Financials to
ensure that the latest data is available for tax calculation.
* Accurately interprets government indirect tax policies then calculates and
returns detailed tax results for over 175 countries.
* Accurately determines tax liability, eliminating tax penalties and interest
costs, while reducing overall cost of compliance.
* Provides comprehensive audit trails to ensure Sarbanes-Oxley 404
compliance.
Availability
ONESOURCE Indirect Tax Integration for SAP is part of the Thomson Reuters end-
to-end indirect tax solution that delivers initial tax determination, and
calculation to final compliance reporting, all supported by highly skilled CPAs
and legal experts who maintain the widest coverage of global tax content. This
newest version of ONESOURCE Indirect Tax Integration for SAP is currently being
released to a limited number of SAP clients and will be generally available in
the latter half of 2013. For more information on ONESOURCE Indirect Tax, visit:
http://onesourceindirecttax.com.
-End-
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businesses and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial and risk, legal, tax and accounting, intellectual property, science
and media markets, powered by the world's most trusted news organization. With
headquarters in New York and major operations in London and Eagan, Minnesota,
Thomson Reuters employs approximately 60,000 people and operates in over 100
countries. Thomson Reuters shares are listed on the Toronto and New York Stock
Exchanges (symbol: TRI). For more information, go to http://thomsonreuters.com
CONTACT
Aimee Quemuel
415-753-9005
aimee(at)codeycommunications.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thomson Reuters Corporation via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 14.05.2013 - 15:30 Uhr
Sprache: Deutsch
News-ID 259795
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